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Sunday, July 18, 2010

StockWatch (Jul 19 – 23, 2010): PSEi, JGS

PSEi (Chart: Daily Resistance: 3485 Support: 3289)

The index made an unexpected move upwards beyond the usually strong resistance level. This is a very significant event, as the resistance line usually held its position, this means the bulls are slowly winning against bears. This might be an indication of good things to come, but as of current, the index would have to move downward for now as the index is overbought. Observe the 65 day MA as this may provide support for the index.

JGS (Chart: Daily Resistance: 17.25 Support: 16.25)
JGS broke out from a small symmetrical triangle. Target price is around 19.

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